Question 1

To be "over budget" is generally considered bad for a company or an individual; to come in "under budget" is generally good.

Accepted Answer

A) True 
 B)False

Question 2

A fixed budget:

Accepted Answer

A)  allocates a stated amount of resources for a specific purpose. 
B)  allocates resources as if each budget were brand new. 
C)  allows resources to vary in proportion with various levels of activity. 
D)  allocates resources like labor, equipment, and space. 
E)  always has equal expenditures and revenue. 
A)  allocates a stated amount of resources for a specific purpose. 
B)  allocates resources as if each budget were brand new. 
C)  allows resources to vary in proportion with various levels of activity. 
D)  allocates resources like labor, equipment, and space. 
E)  always has equal expenditures and revenue.

Question 3

A magazine publishes forecasts of industry conditions, interest rates, unemployment trends, and national economies every quarter. It uses expert opinion to predict the future. This method of forecasting the future falls under the category of _____ forecasting.

Accepted Answer

A)  specific 
B)  attainable 
C)  timely 
D)  measurable 
E)  qualitative 
A)  specific 
B)  attainable 
C)  timely 
D)  measurable 
E)  qualitative

Question 4

_____ are longer-term plans that set broad directions for the organization.

Accepted Answer

A)  Procedural plans 
B)  Functional plans 
C)  Strategic plans 
D)  Tactical plans 
E)  Operational plans 
A)  Procedural plans 
B)  Functional plans 
C)  Strategic plans 
D)  Tactical plans 
E)  Operational plans

Question 5

Silver Finance requires that its interest rate planning process include its employees, managers, some customers, and others who will be affected by the resulting plans and/or will be asked to help implement them. Silver Finance is utilizing _____.

Accepted Answer

A)  contingency planning 
B)  scenario planning 
C)  management by objectives 
D)  participatory planning 
E)  benchmarking 
A)  contingency planning 
B)  scenario planning 
C)  management by objectives 
D)  participatory planning 
E)  benchmarking

Question 6

Describe the benefits of planning for individuals and organizations.

Accepted Answer

The benefits of planning for individuals

Question 7

Which of the following is an external source of organizational pressure?

Accepted Answer

A)  Quest for operating efficiencies 
B)  Alternative work arrangements 
C)  Government regulations 
D)  Concerns for work-life balance 
E)  New organizational structures 
A)  Quest for operating efficiencies 
B)  Alternative work arrangements 
C)  Government regulations 
D)  Concerns for work-life balance 
E)  New organizational structures

Question 8

As the time frames of planning are shrinking nowadays, top management is no longer responsible for setting longer-term plans and directions for the organization as a whole.

Accepted Answer

A) True 
 B)False

Question 9

_____ plans are functional plans that deal with suppliers and acquiring resource inputs.

Accepted Answer

A)  Human resource 
B)  Logistics 
C)  Marketing 
D)  Production 
E)  Facilities 
A)  Human resource 
B)  Logistics 
C)  Marketing 
D)  Production 
E)  Facilities

Question 10

____ attempts to predict the future.

Accepted Answer

Forecastin

Question 11

Which of the following is true of participatory planning?

Accepted Answer

A)  It reduces the time needed for planning. 
B)  It has less need for forecasting. 
C)  It pays greater attention to contingency situations. 
D)  It can improve results by improving implementation. 
E)  It decreases the creativity of planning. 
A)  It reduces the time needed for planning. 
B)  It has less need for forecasting. 
C)  It pays greater attention to contingency situations. 
D)  It can improve results by improving implementation. 
E)  It decreases the creativity of planning.

Question 12

A(n) _____ is a statement of action steps to be taken in order to accomplish the objectives.

Accepted Answer

A)  concept 
B)  objective 
C)  guideline 
D)  goal 
E)  plan 
A)  concept 
B)  objective 
C)  guideline 
D)  goal 
E)  plan

Question 13

A(n) _____ oriented manager ensures that all resources are used to the best interest and benefit.

Accepted Answer

A)  result 
B)  change 
C)  relation 
D)  priority 
E)  advantage 
A)  result 
B)  change 
C)  relation 
D)  priority 
E)  advantage

Question 14

Sujata works for RLB financial services, a mortgage company. The company has opened a new branch in a developing country and Sujata has been assigned the task of identifying all kinds of risks the company might face in that country. She identifies several possible events such as political unrest, ethnic riots, and natural calamities that would endanger the business continuity of the organization. She makes plans to deal with each of these events. Sujata is involved in the process of _____.

Accepted Answer

A)  scenario planning 
B)  performance appraisal 
C)  contingency planning 
D)  benchmarking 
E)  zero-based budgeting 
A)  scenario planning 
B)  performance appraisal 
C)  contingency planning 
D)  benchmarking 
E)  zero-based budgeting

Question 15

Which of the following is true of "great goals"?

Accepted Answer

A)  They are impossible to achieve. 
B)  They are challenging. 
C)  They are difficult to measure. 
D)  They are very generic in nature. 
E)  They are not bound by timetables. 
A)  They are impossible to achieve. 
B)  They are challenging. 
C)  They are difficult to measure. 
D)  They are very generic in nature. 
E)  They are not bound by timetables.

Question 16

_____ planning includes the persons who will be affected by plans and/or those who will implement them.

Accepted Answer

Participat

Question 17

Roshan, the marketing manager at Kalx Inc., wants to check if the latest marketing campaign was successful in increasing the sales of PCs for the company. Which of the following steps must he take to measure the sales performance of the organization?

Accepted Answer

A)  Determine where he stands vis-à-vis objectives 
B)  Define the objectives 
C)  Develop premises regarding future conditions 
D)  Evaluate results and revise plans if needed 
E)  Analyze alternatives and make a plan 
A)  Determine where he stands vis-à-vis objectives 
B)  Define the objectives 
C)  Develop premises regarding future conditions 
D)  Evaluate results and revise plans if needed 
E)  Analyze alternatives and make a plan

Question 18

Stretch goals are performance targets that we have to work extra hard to reach.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following functional plans deal with building a talented workforce?

Accepted Answer

A)  Human resource plans 
B)  Logistics plans 
C)  Marketing plans 
D)  Production plans 
E)  Facilities plans 
A)  Human resource plans 
B)  Logistics plans 
C)  Marketing plans 
D)  Production plans 
E)  Facilities plans

Question 20

A policy of zero-tolerance toward sexual harassment at workplace is an example of _____ plans used by organizations.

Accepted Answer

A)  facilities 
B)  financial 
C)  single-use 
D)  standing 
E)  logistics 
A)  facilities 
B)  financial 
C)  single-use 
D)  standing 
E)  logistics

To be "over budget" is generally considered bad for a company or an individual; to come in "under budget" is generally good.

A fixed budget:

A magazine publishes forecasts of industry conditions, interest rates, unemployment trends, and national economies every quarter. It uses expert opinion to predict the future. This method of forecasting the future falls under the category of _____ forecasting.

_____ are longer-term plans that set broad directions for the organization.

Silver Finance requires that its interest rate planning process include its employees, managers, some customers, and others who will be affected by the resulting plans and/or will be asked to help implement them. Silver Finance is utilizing _____.

Describe the benefits of planning for individuals and organizations.

Which of the following is an external source of organizational pressure?

As the time frames of planning are shrinking nowadays, top management is no longer responsible for setting longer-term plans and directions for the organization as a whole.

_____ plans are functional plans that deal with suppliers and acquiring resource inputs.

____ attempts to predict the future.

Which of the following is true of participatory planning?

A(n) _____ is a statement of action steps to be taken in order to accomplish the objectives.

A(n) _____ oriented manager ensures that all resources are used to the best interest and benefit.

Which of the following is true of "great goals"?

_____ planning includes the persons who will be affected by plans and/or those who will implement them.

Roshan, the marketing manager at Kalx Inc., wants to check if the latest marketing campaign was successful in increasing the sales of PCs for the company. Which of the following steps must he take to measure the sales performance of the organization?

Stretch goals are performance targets that we have to work extra hard to reach.

Which of the following functional plans deal with building a talented workforce?

A policy of zero-tolerance toward sexual harassment at workplace is an example of _____ plans used by organizations.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Data and Decision Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters

Exam 8: Planning Processes and Techniques

To be "over budget" is generally considered bad for a company or an individual; to come in "under budget" is generally good.

A fixed budget:

A magazine publishes forecasts of industry conditions, interest rates, unemployment trends, and national economies every quarter. It uses expert opinion to predict the future. This method of forecasting the future falls under the category of _____ forecasting.

_____ are longer-term plans that set broad directions for the organization.

Silver Finance requires that its interest rate planning process include its employees, managers, some customers, and others who will be affected by the resulting plans and/or will be asked to help implement them. Silver Finance is utilizing _____.

Describe the benefits of planning for individuals and organizations.

Which of the following is an external source of organizational pressure?

As the time frames of planning are shrinking nowadays, top management is no longer responsible for setting longer-term plans and directions for the organization as a whole.

_____ plans are functional plans that deal with suppliers and acquiring resource inputs.

____ attempts to predict the future.

Which of the following is true of participatory planning?

A(n) _____ is a statement of action steps to be taken in order to accomplish the objectives.

A(n) _____ oriented manager ensures that all resources are used to the best interest and benefit.

Which of the following is true of "great goals"?

_____ planning includes the persons who will be affected by plans and/or those who will implement them.

Roshan, the marketing manager at Kalx Inc., wants to check if the latest marketing campaign was successful in increasing the sales of PCs for the company. Which of the following steps must he take to measure the sales performance of the organization?

Stretch goals are performance targets that we have to work extra hard to reach.

Which of the following functional plans deal with building a talented workforce?

A policy of zero-tolerance toward sexual harassment at workplace is an example of _____ plans used by organizations.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Data and Decision Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters